Just over a year on from securing a six-figure funding solution, an Essex-based air conditioning and refrigeration contractor has happily parted ways with its funder.
As a result of successfully obtaining new contracts, delivering an investment programme focused on improving technology and recruiting additional employees to cope with demand, the firm has found itself in a good cash position. Thanks to the funding facility, the firm was able to make key investments and now have no current need for additional cashflow support.
J.C. Watson Mechanical design and install air conditioning and refrigeration solutions. With over 40 years’ experience in both the public and private sector, the business provides services to local authorities, the NHS, as well as businesses. The director had ambitious plans to invest back into the business, with the challenge being how to fund them.
1pm plc (LON:OPM), established in 2006 is an independent provider of finance facilities to the SME sector. The 1pm plc group offer a full range of business finance solutions to the UK market from asset finance, hire purchase, commercial loans through to invoice finance and factoring. Gener8 Finance Limited is a wholly-owned subsidiary of 1pm.